A head-to-head comparison of iShares Treasury Floating Rate Bond ETF and WisdomTree Floating Rate Treasury Fund covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.
See our curated list of related YouTube videos on TFLO.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
WisdomTree is known for offering diversified, thematically-focused ETFs that emphasize dividend income and factor-based strategies across multiple asset classes. The firm manages 28 funds spanning equities, fixed income, commodities, digital assets, and alternatives, with a particular strength in dividend and income-oriented products like its popular DGS (Emerging Markets High Dividend) and DGRW (Emerging Markets Quality Dividend Growth) funds. WisdomTree's lineup is characterized by its broad thematic approach, including exposure to megatrends and digital assets, alongside traditional dividend and factor-based equity strategies designed to appeal to income-focused investors.
See our curated list of related YouTube videos on USFR.
Track the performance of U.S. Treasury floating-rate notes (FRNs).
Asset class
Fixed Income
Fixed Income
Inception date
02/04/2014
02/04/2014
Beta
-0.02
-0.02
Last dividend
$0.1598
$0.1599
Ex-dividend date
08/03/2026
07/28/2026
Bottom lineTFLO and USFR are nearly interchangeable — both offer very similar ultra short bond exposure with very similar cost and risk. Fees are effectively identical, so it comes down to which your broker offers commission-free and any share-price or tax-lot preference.
Most used
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Want to go deeper?
Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — no signup required.
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
TFLO has lagged USFR over the trailing twelve months, posting a 3.58% total return against 3.99%. The lead holds up over 10 years too: USFR has compounded at 2.49% a year, against 2.39% for TFLO. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 5, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Feb 2014” measures every fund from February 4, 2014 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
TFLO (iShares Treasury Floating Rate Bond ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both monthly-pay dividend ETFs, but they take different approaches.
USFR offers the higher yield at 3.81% vs 3.80% for TFLO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
USFR is the larger fund by assets ($18.4B), which generally means tighter spreads and better liquidity.
Still deciding? Track TFLO & USFR for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
On a $10,000 investment, TFLO would generate roughly $31.67/month, while USFR would produce $31.75/month, at current distribution rates. Both pay monthly distributions.
TFLO yield3.80%
USFR yield3.81%
Monthly diff on $10K$0.08
Cost & efficiency
Over 10 years on $10,000, TFLO would cost approximately $150 in fees vs $150 for USFR (simplified, not compounded). Both charge the same expense ratio.
TFLO ER0.15%
USFR ER0.15%
Strategy & risk
TFLO is an ETF, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index with a bonds approach.
TFLO beta-0.02
USFR beta-0.02
Fund details
TFLO is managed by iShares (launched 02/04/2014) with $6.66B in assets. USFR is managed by WisdomTree (launched 02/04/2014) with $18.4B in assets.
Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.
Frequently asked questions
What is the current distribution yield for TFLO and USFR?
TFLO currently distributes 3.80% and USFR 3.81%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is TFLO or USFR better for dividend income?
It depends on your goals. USFR currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between TFLO and USFR?
TFLO (iShares Treasury Floating Rate Bond ETF) is an ETF, while USFR (WisdomTree Floating Rate Treasury Fund) tracks Bloomberg U.S. Treasury Floating Rate Bond Index with a bonds approach. They are issued by iShares and WisdomTree respectively.
Can I hold both TFLO and USFR?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, TFLO or USFR?
TFLO and USFR both charge the same expense ratio of 0.15%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.
How much income does $10,000 in TFLO vs USFR generate?
At current rates, $10,000 in TFLO would generate roughly $31.67 per month ($380.00 annually). The same in USFR would produce about $31.75 per month ($381.00 annually).
Which has performed better historically, TFLO or USFR?
TFLO has lagged USFR over the trailing twelve months, posting a 3.58% total return against 3.99%. The lead holds up over 10 years too: USFR has compounded at 2.49% a year, against 2.39% for TFLO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
Still deciding? Compare them against your own portfolio
See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.
